Penang Chief Minister Chow Kon Yeow says his government is ready to sign the next major agreement with SRS Consortium.
Besides the detailed design, once the agreement is signed, tenders will be called and the contractors will be hired later.In the meantime, he said the state government would now await a RM10 billion sukuk bond to be issued and a federal government guarantee for the bonds. The 30km LRT line will cost about RM8 billion and will begin in June next year. It will take five years to complete.Chow also revealed that 27 groups had been shortlisted for the PSI master plan competition. A total of 124 consortiums had earlier indicated their interest, he said.The competition is co-organised by the northern chapter of the Malaysia Institute of Architects. Winners will be announced next April.
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